AMENDMENT NO. 16
TO THE RESTATED PLAN DOCUMENT OF THE
SOUTHERN CALIFORNIA IBEW-NECA PENSION PLAN
This Amendment to the Southern California IBEW -NECA Pension Plan ("Plan") executed this 27th day of April, 2010, is made by the Board of Trustees of the Southern California IBEW-NECA Pension Trust Fund ("Board of Trustees") with reference to the following facts and circumstances:
- The Board of Trustees wishes to clarify the terms of the Plan regarding the applicability of the 1.9% benefit accrual rate under the terms of the Rehabilitation Plan Alternative Schedule 2 for Participants who have earned 42,500 hours but are under age 55. The Co-Actuaries for the Pension Trust Fund have provided advice to the Board of Trustees that the proceeding Amendment does not increase pension benefits in any manner.
- The Board of Trustees has reserved to themselves the ability to amend the Plan from time to time.
NOW THEREFORE, the Plan is amended as follows:
- Article 4.2(b) is amended by adding the following to the end of subparagraph (5):
"Effective on and after July 1, 2010, notwithstanding the terms of Article 18, a Participant who is under age 55 and would otherwise have met the requirements of Section 3.2(b) for an Early Retirement Pension, shall be deemed to have met such requirements for purposes of the application of this sub-paragraph."
- All other terms and conditions of the Plan shall remain in full force and effect.
This Amendment shall be effective July 1, 2010.
Executed this 27th day of April, 2010 at Commerce, California.
By: Signature on File
Chairman
By: Signature on File
Secretary
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